Zelle, the bank-led person-to-person payment network, is having growing pains.
As of Tuesday, 100 financial institutions were enrolled and 19 were up and running. In the first quarter alone, $25 billion passed through the network in 85 million transactions.
Banks and consumers have learned a handful of truths — good and bad — about the network as it copes with a number of challenges including fraud threats, growing demand as well as technical and enrollment issues. Here is what some of the bankers involved have to say about it all.